In a bid to reduce the trade gap with the United States, Bangladesh has announced its intention to offer zero import tariffs on an additional 100 US goods, complementing the existing 190 products already enjoying zero tariffs. This proposal is outlined in a letter from Commerce Adviser Sk. Bashir Uddin to US Trade Representative Jamieson Greer.
Bangladesh, a significant importer of US cotton and a major manufacturer of ready-made garments, is seeking to mitigate the impact of higher tariffs imposed on its exports to the US Following the withdrawal of preferential trade access for Bangladeshi goods, the US has imposed a 15 per cent tariff on all imports from Bangladesh. In contrast, Bangladesh currently applies a weighted average tariff of just 6.10 per cent on US products, with specific tariffs for raw cotton and steel scrap set at 0 per cent and 1 per cent, respectively.
The adviser emphasised the importance of this initiative in fostering bilateral trade relations and addressing the challenges posed by the existing tariff structure. “Our tariff schedule already includes 190 product lines with zero tariffs, and we are now considering adding another 100 product lines to this list,” Uddin stated in the letter.
